Forex prop firms can be classified as traditional and modern, based on the types of accounts they are providing. There are very few legit modern prop firms as far as now like Funded Squad, which lets traders skip the evaluation phase and access trading capital directly with instant funding accounts.
Funded Squad offers different funding models which give traders the options to choose any as per their desire. If traders want to skip evaluation they can opt for instant funding, if they want to assess their skills quickly they can choose 1 step challenge and they are beginners who want to have a trial and test their skills they can go for 2-step evaluation account.
Understanding the difference between all these funding models is important for traders because they need to choose the path that best fits their goals and trading style. Hence let’s evaluate all funding models and explore which one would be an ideal choice for you!
FundedSquad’s Evaluation Accounts
FundedSquad’s Evaluation Accounts follow a structured challenge model. Traders must prove their skills by passing one or more phases while adhering to specific rules. Here’s how it works:
Key Features:
- Low Entry Cost: Traders pay an upfront fee that is significantly lower than instant funding options.
- Profit Targets: Traders must achieve a set profit target, typically around 6-9% in Phase 1 and a lower target in Phase 2.
- Drawdown Limits: There are daily and overall drawdown limits to manage risk.
- Scaling Plan: Successful traders can scale their accounts up to larger capital allocations.
- Refundable Fee: The initial challenge fee is refunded upon passing.
Related Blog: Instant Funding vs. Evaluation-Based Funding: What’s Right for You?
Who Is It Best For?
- Disciplined Traders who can adhere to strict risk management rules.
- Traders with Low Capital looking to access larger funds at a lower cost.
- Consistent Performers who can pass a structured challenge over a set period.
FundedSquad’s Instant Funding Accounts
Instant Funding Accounts provide traders with immediate access to a live funded account without the need to pass a challenge. Instead of proving profitability through a test phase, traders can start trading with real capital right away.
Key Features:
- Immediate Access: No need to pass an evaluation; traders start with a live funded account instantly.
- Higher Upfront Cost: Since traders skip the evaluation phase, the fee is higher compared to evaluation accounts.
- No Challenge Stress: There are no strict profit targets or challenge phases.
- Flexible Trading: More freedom in strategy execution without the pressure of challenge conditions.
- Profit Splits: Competitive profit-sharing percentages that reward successful traders.
Related Blog: How Instant Funding Accounts Work for Beginner Traders
Who Is It Best For?
- Experienced Traders who already have a profitable strategy and want to skip the evaluation process.
- Traders Who Prefer Immediate Funding rather than waiting to pass a challenge.
- Scalpers and Day Traders who need capital without phase-based restrictions.
Which One is the Easiest?
The answer depends on individual trading style and experience:
- For Beginners: The Evaluation Account may be a better choice since it has a lower upfront cost and provides an opportunity to scale funds while refining skills.
- For Profitable Traders: The Instant Funding Account is easier in the sense that it doesn’t require passing a challenge. However, it requires a higher initial investment.
- For Risk-Averse Traders: If managing challenge rules and drawdown limits seems stressful, the Instant Funding Account removes these hurdles, making it the simpler option.
Conclusion
- Go for the Evaluation Account if you prefer a structured approach, want a lower-cost entry, and are confident in passing a challenge.
- Choose the Instant Funding Account if you want immediate access to a funded account and are willing to pay a higher fee to bypass the evaluation process.
Both options offer great opportunities depending on your needs. FundedSquad provides traders with one of the most competitive and accessible funding models, ensuring that whether you prefer an evaluation-based approach or direct funding, you have a reliable path to trading success.
